Warner Music Group’s recorded music operation is changing.<\/p>\n
The major music company has confirmed that its global CEO of Recorded Music, Max Lousada<\/strong>, will be leaving WMG.<\/p>\n Lousada<\/strong> will step down from Warner at the end of the firm’s fiscal year (September 30), after eight successful years in the role, and 20 years at WMG. Lousada<\/strong> will remain as an advisor to WMG through January 31, 2025.<\/p>\n Elsewhere in a global shake-up of Warner’s structure, Elliot Grainge<\/strong>, the founder of 10K Projects, is becoming CEO of Atlantic Music Group<\/strong>, home to Atlantic Records and 300 Elektra Entertainment. That change will take effect from October 1.<\/p>\n WMG acquired a 51%<\/strong> stake in 10K Projects last year in a $102<\/strong> million deal<\/a>. Subsequent to that acquisition, Grainge \u2013 son of Universal Music Group boss, Sir Lucian Grainge<\/strong> \u2013 joined WMG\u2019s global leadership team.<\/p>\n Working alongside Grainge<\/strong> in the new Atlantic Music Group (AMG)<\/strong> setup at WMG will be Julie Greenwald<\/strong>, who is today named Chairman of AMG under the new structure.<\/p>\n Greenwald<\/strong> will report to Warner Music Group CEO, Robert Kyncl,<\/strong> in her new role.<\/p>\n Warner’s US recorded music operation will henceforth be organized into two label groups.<\/p>\n Atlantic Music Group<\/strong>, run by Elliot Grainge<\/strong> as CEO, will house Atlantic Records, 300 Elektra Entertainment, plus 10K Projects. AMG<\/strong> will continue to “benefit from the creative expertise of A&R legend Craig Kallman<\/strong>“, WMG said in a media release.<\/p>\n On the West Coast, Warner Records<\/strong>, which has enjoyed a surge of recent success under Tom Corson and Aaron Bay-Schuck<\/strong>, will now include oversight of Warner Music Nashville, along with Nonesuch and Reprise.<\/p>\n A major part of the new company restructure will see a “flatter structure” for Warner’s ex-US recorded music operation around the world, said WMG.<\/p>\n Under this new structure, WMG will neither have the roles of CEO, Recorded Music<\/strong> (Lousada’s current position) nor President, International, Recorded Music<\/strong>.<\/p>\n WMG\u2019s Recorded Music regional and divisional leaders will now report directly to Robert Kyncl<\/strong>. Changes include:<\/p>\n Meanwhile, the heads of WMG’s separate divisions covering distribution (via ADA), Global Catalog, Marketing, and WMX (including merchandising and Direct To Fan) will\u00a0all report directly to\u00a0Robert Kyncl <\/strong>from October 1<\/span>.<\/p>\n Robert Kyncl<\/strong> said: \u201cOn behalf of everyone at WMG, I\u2019d like to thank Max for his extraordinary achievements over the last twenty years. Max is a true artists\u2019 champion, who created a culture that puts artistry first, growing our global reach and building a roster of incredible talent and an outstanding team. I\u2019m grateful that he\u2019ll be helping to ensure a smooth transition.\u201d<\/p>\n Added Kyncl<\/strong>: \u201cI\u2019m very happy to promote Elliot to his new position, and delighted that Julie will be taking on her new role, both of them working with Craig, as we take this iconic label to even greater heights. Elliot has been a stellar addition to WMG\u2019s leadership team, with a distinctive approach to artist development.<\/p>\n “We have an amazing bench of creative leaders, and I\u2019m looking forward to working more closely with them, as we collaborate on the company\u2019s next phase of creative excellence, commercial transformation, and growing revenues. At a time when global culture moves at the speed of light, we\u2019re doubling down on great artists and diverse music scenes, empowering our talent and team to have maximum impact.\u201d<\/p>\n Max Lousada<\/strong> said: \u201cOver the past two decades, we created something special together at Warner: a music company built for artists, where original voices are championed, where their creativity is honored and protected, and where superstar careers are ignited.<\/p>\n “I’m proud to have grown a world-class team who share that vision and whose enterprise and energy have brought in new labels, rebuilt iconic brands, expanded our global network, and pioneered new fan experiences. The music business has always been about evolution, and the time has come for me to build something new. I\u2019ll be helping the team through this transition, and I have no doubt they\u2019ll continue to develop artists who move the world.\u201d<\/p>\n Julie Greenwald<\/strong> said: \u201cMy whole career is about developing baby bands into career artists and empowering our amazing people to change culture in unexpected ways. It\u2019s been twenty years since I walked through the door at Atlantic and began the work of rearchitecting this iconic label.<\/p>\n “I couldn\u2019t have done it without the deep passion and dedication of my incredible team, and our unbelievable artists, who make music that inspires and moves people everywhere. Finally, I want to welcome Elliot; I\u2019m looking forward to working with him as we continue to place our artists and their music at the heart of this company.\u201d<\/p>\n Elliot Grainge<\/strong> said: \u201cIt will be a huge honor to join such a legendary label group, partner with its iconic artists, and build on the extraordinary achievements of Julie and Craig \u2013 they\u2019re leading a second golden age at Atlantic Records.<\/p>\n “I\u2019m excited to work with the talented team at Atlantic Music Group to take the artists and the brand into fresh territory, and continue to nurture 10K\u2019s artists and its unique spirit. Together, we\u2019ll pioneer powerful opportunities for the creative community and raise up a new generation of superstars. In the meantime, I\u2019d like to thank Max for his faith in me and Robert for trusting me with this great responsibility.\u201d<\/p>\n Today’s news comes six months after Warner Music Group announced that it would be cutting its global headcount by 600 employees<\/a>, around 10% of its worldwide employee base, by the end of September 2024.<\/p>\n The majority of these layoffs, said Warner, would relate to the closure or sale of its “Owned & Operated” media properties.<\/p>\n
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